We had 2 inverted hammers on the last 2 weekly candles which should indicate a reversal.
On the daily there is also an ascending triangle in play which is sitting under one of the uptrend channels I have on my chart. I suspect this may be an extended trap with the help of negative sentiment all thanks to Vladdy Putz. I suspect we may break out of the ascending triangle this week and at least enter back into the channel and bounce around support until the next leg up. The pointy end of the triangle ends next Monday and a breakout of the pattern this week will give a nice follow thru candle after the 2 weekly inverted hammers we had.
I have also noticed more and traps than our 2016 lithium run, and generally find it more difficult to plot trend channels especially compared to other stocks. I’m convinced the manipulators are getting ideas off our charts as to how we think and throw traps wherever they see fit.
AGY Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
